Render: Can whales push RNDR to $8.13 after a 40% dip?

• Render rebounded 29% in just 48 hours, after a steep 40% drop over the last week.
• The altcoin’s surge in trading volume and rising whale activity signal bullish momentum for Render, with $8.13 emerging as a key target level.

 Render [RNDR] has been among the Solana ecosystem’s top gainers. The altcoin has surged by over 10%, trading at $7.43, at press time. According to CoinMarketCap data, Render’s trading volume and market cap have also seen significant increases.

Notably, the coin’s trading volume skyrocketed by 43%, reaching $1.26 billion in just one day.

A volatile week leads to a strong comeback

Despite its recent rally, Render had a tough week. Its price plunged by nearly 40%—the deepest drop since its breakout from a symmetrical triangle consolidation. This decline shook market confidence, but the altcoin has managed a remarkable recovery.

In the last 48 hours, it has erased its losses and surged by 29%. This fast rebound solidifies RNDR’s position as one of the top performers in the Solana ecosystem.

Source: TradingView

Render whale capitalizes on the dip

On-chain metrics also point toward a bullish outlook for the coin. According to data from IntoTheBlock, large transactions are up 10%, indicating a surging whale activity on the altcoin.

In most cases, surges in whale activity correlate with strong price action, further supporting the potential for Render to continue higher.

Source: IntoTheBlock

Liquidation heatmap leans to the bulls

Additionally, the liquidity heatmap data shows a bullish bias. According to the heatmap, there is a massive pool of liquidity, with about 310k worth of Render to be liquidated at the $8.13 price level.

This pool could act like a magnet for price action and serve as an effective target for the bulls.

Source: Coinglass

What next for Render?

A combination of technical and on-chain metrics sends an encouraging picture for Render. While last week’s dip tested its resilience, the altcoin has strongly bounced back, reclaiming investor confidence in a short span.

Read Render’s [RNDR] Price Prediction 2024–2025  

Its current price momentum, coupled with rising trading volume and whale activity, suggests that the coin could sustain its upward trajectory in the near term.